Update 2.40pm: Dublin City University says it is in the early stages of planning for the construction of an extra 850 bedspaces on their Glasnevin and All Hallows campuses.
The college has released a statement following revelations that privately-owned student accomodation complexes close to DCU were raising their rents.
It has led to a petition calling on the Government to provide more affordable student accommodation, which has been signed over 12,000 times.
In the statement, DCU has reiterated that the complexes in question are not owned by the college.
Earlier: 'Weak' legislation criticised by students' union as accommodation prices skyrocket
The Government has been accused of having 'weak' legislation when it comes to student accommodation.
It comes as a privately-owned complex in Dublin has raised it's rent prices by up to 27 per cent for the next academic year.
Shanowen Square plans to charge just under €8,700 for a student to live there from September this year, until May of 2019.
A petition that was set up after the revelations has since been signed by more than 11,000 students.
DCU Students' Union President Niall Behan has called on the Ministers for Housing and Education to step in and close the loophole on licence agreements.
"We can have a nine-month lease, they can have people there during the summer and for a four-bed apartment you're looking at €28,000. It's a complete disgrace," said Mr Behan.
"We really need the minister to step up here and actually do something...they need to show that they value the people who are living through education."